Brokers

A while back we wrote about the removal of the prohibition against foreign ownership of property along the coast and borders from Mexico’s Constitution. If this happens, it could have a positive affect on the market, making it easier for Americans and Canadians to buy.

Wall Street Journal agrees with this take:

Mexico is poised to lift century-old restrictions on foreign ownership of property along its coasts and borders, a move real-estate developers believe could boost the nation’s vacation-home market.

 

Some lawmakers note that, in areas where the fideicomisos aren’t required, including the central Mexican town of San Miguel de Allende, the economy is thriving thanks to retiring Americans, Canadians and other foreigners.

While we wait for the senate to review this bill, let’s hope that it will go through and help to acknowledge the reality of the benefits that expat buyers are bringing to Mexico’s coastal areas.

-by Thomas Lloyd